MonetaryCoin Presents Innovative Cryptocurrency
The US Senate is concerned about the influence cryptocurrencies may have on elections, while the cryptocurrency sector can completely change the financial system. A clear example of this is the MonetaryCoin project, based on the economic theory of monetarism.
This theory asserts that the main driving force of the economy and money supply is GDP (Gross Domestic Product). The founders of the project decided to use this thesis in practice and create an algorithmically controlled economic system without the participation of financial regulators. The number of newly created MonetaryCoin tokens will directly depend on the GDP level of a particular country. The founders insist that 100% of tokens will be distributed among participants. 10% can be brought within the ICO, which starts on July 10, 2018, and will last 180 days.
MonetaryCoin tokens are based on the ERC20 standard and will be distributed among the participants by the Proof-of-Stake method. This indicates that the total number of tokens is known, but they will be distributed strictly in relation with GDP's changes. It is possible due to the innovate MonetaryCoin software called econometric Oracle. The program analyzes the current economic situation and makes a reliable forecast.
While the Huobi Group is developing new applications for investors, the technology moves even further. Perhaps, soon the programs used in the cryptosphere will fundamentally affect the economy as a whole.